Maximise your accounting mark with minimal effort!

A dozen top tips here for success by accounting exam students. Its all about dotting the i's and crossing the t's - attention to detail!!

1 Read the question carefully.

2 Show all workings.

3 Balance off all accounts .

4 Ensure you put headings on any statements you create.

5 Extended answers are where many students lose marks. Try to put a balanced argument in using a four paragraph rule. An introduction or definition to start with followed by an argued case for the argument. Then you give an argument against and finally you summarise with an overall conclusion. Put numbers in to back up your argument or quote examples from the text. This shows good application!

6 If doing any form of double entry and you are not sure which is which then draw up some scrap T accounts at the bottom to practice.

7 Put the headings and then words in the right places in your financial statements – you can put the figures in last once your layout is pretty much complete. Leave an extra line or two of a gap between headings in case you miss something out!

8 Don’t worry if things don’t balance – it might mean you lose 1 mark. This is better than wasting too much time on it so you don’t finish the rest of the paper!

9 Put detail on your written answers - 2 mark questions need more than 2 words! Ask yourself if your answer is worth the number of marks available. If not then what is it lacking?

10 Adjustments to accounts are vital and involve changing 2 things.

11 Remember any acronyms and mnemonics your teachers have given you

12 Read the question carefully (yes I know but it’s doubly important!).

Good luck!

@nialsatis